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Can you summarize MORS Chapter 409, Article 5?
Regulation of Securities > FRAUD AND LIABILITIES
Short Summary
This legal document pertains to rescission offers in the context of securities regulation in Missouri. It applies to purchasers, sellers, and recipients of investment advice. The document outlines the conditions under which a person may not maintain an action under section 409.5-509, including receiving an offer that informs the person of their rights, provides necessary financial or other information to correct misrepresentations or omissions, and offers remedies such as repurchasing the security, tendering the security, or reimbursing the consideration paid. The offer must be accepted within a specified period, and the offeror must have the ability to fulfill the offer. If the offer is accepted, the person must be paid in accordance with the terms of the offer. The document does not mention any exemptions or penalties.
Whom does it apply to?
Purchasers, sellers, and recipients of investment advice
What does it govern?
Rescission offers in the context of securities regulation
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Missouri